Tags: US | Earns | BJs | Wholesale

BJ's Cuts Yearly View After Net Income Edges Up

Wednesday, 18 Aug 2010 11:04 AM

Warehouse club operator BJ's Wholesale Club Inc. said Wednesday its second-quarter net income rose 2 percent, but the company lowered its guidance for the year.

Net income for the three months ended July 31 fell to $35.8 million, or 67 cents per share, from $35.1 million, or 64 cents per share last year.

Revenue rose 9 percent to $2.79 billion from $2.57 billion last year.

Analysts polled by Thomson Reuters, on average, expected higher net income of 73 cents per share on revenue of $2.8 billion.

The company lowered its earnings guidance for the year. It now expects earnings of $2.40 to $2.50 per share, from prior guidance of $2.58 to $2.68 per share. Analysts expect $2.67 per share.

It expects revenue to rise 8 percent to 10 percent, from earlier guidance of a 9.2 percent to an 11.2 percent rise. The change is due to lower expected sales of merchandise. Expectations for sales of gasoline remained unchanged.

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Warehouse club operator BJ's Wholesale Club Inc. said Wednesday its second-quarter net income rose 2 percent, but the company lowered its guidance for the year.Net income for the three months ended July 31 fell to $35.8 million, or 67 cents per share, from $35.1 million, or...
US,Earns,BJs,Wholesale
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2010-04-18
 

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